Guideline Value for Kumar Street

Kumar Street guideline value

The current guideline value of Kumar Street, located in the 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Kumar Street has changed

The guideline value for Kumar Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in 2nd Division

In the 2nd Division village under the Kanchipuram Joint IV SRO, there are 101 streets that carry a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Kumar Street. Below are other streets in 2nd Division:

• Kumarasamy Avenue: Rs 3,300 per sq.ft (2024)
• Kumarai Chetty Street: Rs 1,650 per sq.ft (2024)
• Lalakuttai Street: Rs 1,100 per sq.ft (2024)
• Kottai Kollai Subrayar Street: Rs 1,650 per sq.ft (2024)
• Kotrampalayam Street: Rs 1,650 per sq.ft (2024)
• Maduranthottam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumar Street?

Kumar Street is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor in the registration process when buying or selling property in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kumar Street?

The current guideline value of Kumar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

What are the stamp duty and registration fees for a property in Kumar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Kumar Street?

Kumar Street is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

Are there other streets in 2nd Division with similar guideline values?

Yes, there are several other streets in 2nd Division with guideline values of Rs 1,650 per sq.ft, including Kumarai Chetty Street, Kottai Kollai Subrayar Street, and Kotrampalayam Street.